First, you need to freeze the blob so that it kills the other blob, and the peach and its children if they came up to that level. While it's frozen, go up the chute on the right, and wait for an opportunity to get through the two orbiting razors. Once you're in, if the peach is there, freeze it so it slides around and freeezes as many razors as possible. Make your way through them, then freeze the lemon to kill everything on the bottom. Use the blue bomb to kill the peach, then go right by the teleporter and up-kick to kill the rest.

Of course, the fireball will probably interrupt this cycle...
